Michael Saylor’s firm, MicroStrategy, has ramped up its cryptocurrency strategy by adding 487 Bitcoin, estimated at around $50 million, to its holdings. This latest acquisition comes in a week after the company reported a modest increase in previous acquisitions, now totaling 641,692 BTC worth more than $67 billion as of the publication date.

In a filing with the US Securities and Exchange Commission, the firm disclosed its average acquisition price to be $102,557 per Bitcoin. This strategic move has stirred interest among institutional investors, who view MicroStrategy’s investment tactics as indicative of market trends.

Bitcoin Acquisition Source: Michael Saylor

A noteworthy companion to this news is Kynikos Associates, which recently concluded its short position against MicroStrategy’s shares, signifying a growing bullish perspective on Bitcoin treasury strategies. These moves coincide with the rising value of Bitcoin, which reached $105,321 with an increase of about 1.5% within the last 24 hours.